Kyverna Therapeutics (NASDAQ:KYTX) Earns “Neutral” Rating from HC Wainwright

HC Wainwright restated their neutral rating on shares of Kyverna Therapeutics (NASDAQ:KYTX) in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a $7.00 price objective on the stock.

Separately, JPMorgan Chase & Co. cut their target price on Kyverna Therapeutics from $39.00 to $33.00 and set an overweight rating on the stock in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $34.40.

Kyverna Therapeutics Stock Performance

Shares of Kyverna Therapeutics stock opened at $6.39 on Thursday. Kyverna Therapeutics has a 1-year low of $6.30 and a 1-year high of $35.06. The stock’s 50 day simple moving average is $7.90 and its 200-day simple moving average is $13.62.

Kyverna Therapeutics (NASDAQ:KYTX) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.67) EPS for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.03. On average, equities analysts expect that Kyverna Therapeutics will post -3.38 EPS for the current year.

Institutional Trading of Kyverna Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky increased its position in shares of Kyverna Therapeutics by 69.7% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 21,410 shares of the company’s stock worth $161,000 after acquiring an additional 8,796 shares during the period. Novo Holdings A S increased its position in shares of Kyverna Therapeutics by 150.0% during the second quarter. Novo Holdings A S now owns 1,750,000 shares of the company’s stock worth $13,125,000 after acquiring an additional 1,050,000 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Kyverna Therapeutics by 32.6% during the second quarter. The Manufacturers Life Insurance Company now owns 37,794 shares of the company’s stock worth $283,000 after acquiring an additional 9,300 shares during the period. Millennium Management LLC increased its position in shares of Kyverna Therapeutics by 32.8% during the second quarter. Millennium Management LLC now owns 923,082 shares of the company’s stock worth $6,923,000 after acquiring an additional 227,988 shares during the period. Finally, MBB Public Markets I LLC purchased a new stake in shares of Kyverna Therapeutics during the second quarter worth $3,076,000. Hedge funds and other institutional investors own 18.08% of the company’s stock.

Kyverna Therapeutics Company Profile

Kyverna Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing cell therapies for patients suffering from autoimmune diseases. Its lead product candidate is KYV-101, an autologous CD19 CAR T-cell product candidate for the treatment of patients with lupus nephritis and systemic sclerosis that is in Phase I clinical trial; and for myasthenia gravis and multiple sclerosis that is in Phase II clinical trial.